Incomplete manufacturing cost data for Ikerd Company for 2010 are presented as follows for four different situations.
|
Direct |
Direct |
Total |
Work in |
Work in |
Cost of |
|
|
Materials |
Labor |
Manufacturing |
Manufacturing |
Process |
Process |
Goods |
|
Used |
Used |
Overhead |
Costs |
1/1 |
12/31 |
Manufactured |
|
(1) $127,000 |
$140,000 |
$ 77,000 |
(a) |
$33,000 |
(b) |
$360,000 |
|
(2) (c) |
200,000 |
132,000 |
$450,000 |
(d) |
$40,000 |
470,000 |
|
(3) 80,000 |
100,000 |
(e) |
245,000 |
60,000 |
80,000 |
(f) |
|
(4) 70,000 |
(g) |
75,000 |
288,000 |
45,000 |
(h) |
270,000 |
Instructions
(a) Indicate the missing amount for each letter.
(b) Prepare a condensed cost of goods manufactured schedule for situation (1) for the year ended December 31, 2010.